The Securities Bureau of the Department of Finance administers the Idaho Endowment Care Cemetery Act, Idaho Code § 27-401, et seq.
A “perpetual” or “endowed care cemetery” is a cemetery where lots are sold under the representation that the cemetery and lots will receive perpetual maintenance and oversight. This “endowed care” is provided free of further cost to the purchaser after the original purchase price is paid for a lot or burial space. All “endowed care” or “perpetual care” cemeteries in Idaho are required to be registered with the Department of Finance. The Endowment Care Cemetery Act ensures that sound business practices essential to the continued furnishing of endowed or perpetual care are followed.
An endowed or perpetual care cemetery is required to establish an irrevocable trust fund in the sum of at least $50,000 for the care of the cemetery. The income from the trust fund may only be used for the general care, maintenance, and embellishment of the cemetery.
Endowed care cemeteries are required to submit an annual registration statement and filing fee along with a financial statement for their trust account to the Director. The Department conducts annual examinations of endowed care cemeteries to verify that the trust funds are being handled properly and perpetual care is provided.